The Lib Dems have become the only major party to commit to the triple lock on pensions, supporting the 16,686 pensioners living in Colchester.

The party is set to commit to the triple lock in its draft manifesto for the next General Election being adopted at its Autumn Conference this weekend. The commitment would ensure pensions rise in line with inflation, wages or 2.5% – whichever is highest.

It means the Liberal Democrats are the only major party to commit to maintaining the triple lock in future years, with both the Conservatives and Labour refusing to do so. 

The Liberal Democrats said the policy would protect pensioners facing sky-high bills from the cost of living crisis, adding that pensioners deserve to have the security of knowing that the triple lock will be there to support them in future years.

The Liberal Democrats brought in the triple lock whilst in government, lifting 300,000 pensioners out of poverty. However, one in seven pensioners nationally still live in absolute poverty.

Liberal Democrat  Parliamentary spokesperson Martin Goss, for Colchester said:

“Many pensioners in Colchester are already worried sick about how to pay the bills, as the cost of heating and eating goes through the roof.

“Now the refusal of both the Conservatives and Labour to commit to protecting pensions in future is causing even more anxiety for those struggling to get by.

“The Liberal Democrats are proud that we brought in the triple lock, lifting thousands of pensioners out of poverty. We are committed to keeping the triple lock in place, giving people the security of knowing it will be there to support them in future years. “Pensioners should not be made to pay the price for years of economic chaos under the Conservatives Party.”

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